ATO releases updated guidelines on SMSF changes
Sarah Kendell
The ATO has released updated guidelines for trustees around how to make changes to their SMSFs within a compliant framework.
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Government floats changes to downsizer contributions
The government has floated a number of imminent changes to eligibility for downsizer contribution rules, including clarifying who can contri
AAT upholds banning of SMSF lender
The Administrative Appeals Tribunal has upheld ASIC’s decision to cancel the credit licence of a company associated with a Queensland-base
PSTs raise complexity for ECPI calculations
Trustees with both accumulation and retirement phase interests considering investing in a pooled superannuation trust (PST) may need to obta
Sarah Kendell
Downsizer contributions: Tips and traps for SMSFs and their members
In part two of our series on downsizer contributions, I will look at tips and traps SMSF trustees need to be aware of when making these cont
Return of accountants’ exemption hits a snag
Last month, in its independent review of the Tax Practitioners Board, Treasury floated the return of the accountants’ exemption as one o
Trustees risk legal action from lack of investment strategy
Trustees of multi-member SMSFs could be putting themselves at risk of legal action from other fund members if they do not have an adequately
BGL launches tax statement tool
Software provider BGL has released a new tool to automate the processing of investment distribution data for annual SMSF tax statements.
ATO cracks down on FHSSS release times
The ATO will crack down on super funds that are not releasing First Home Super Saver Scheme deposits within 10 business days, after an inves
ATO beefs up verification for SMSF rollovers
The ATO has beefed up its verification system for SMSFs wishing to receive a rollover from APRA-regulated funds, in an effort to root out un
Sarah Kendell
Does the downsizer contribution have any appeal?
As one of a number of “housing affordability” measures where superannuation is seeking to encourage housing affordability, downsizer con
Industry education veteran joins SuperGuardian
Former ATO officer and SMSF industry veteran Tim Miller has joined SMSF administrator SuperGuardian as the group’s new education manager.
CPA president extends tenure
CPA Australia president Peter Wilson will extend his term on the board of directors for a further three years after being reappointed by the
Concerns unfounded around ATO diversification penalties
Trustees concerned by letters received from the ATO around the lack of diversification in their SMSF portfolio should be aware that they can
Recession could create SMSF boom
A potential recession could create a boom for the SMSF industry, as Generation X clients in particular flock towards self-managed funds and
SMSF member TSBs overstated
SMSF members may be overstating their total super balance in their SMSF annual returns due to the requirement to reflect the net withdrawal
Sarah Kendell
SMSF investment strategies and diversification — an auditor’s view
The ATO has sent letters of concern to approximately 17,700 SMSFs that hold 90 per cent or more total investments in a single asset or asset
SMSF clients see little value in full advice
Perceptions of distrust and low value continue to exist among SMSF clients when it comes to comprehensive financial advice, fuelling concern
Carry-forward brings opportunities for younger trustees
The government’s recently introduced catch-up concessional contributions may be more suited to young professionals in the pre-family stage
LEI deadline approaching for SMSF traders
SMSFs who trade in non-exchange-traded instruments such as CFDs and foreign exchange will need to obtain a legal entity identifier (LEI) num
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